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UGC NET JUN 2005 : ECONOMICS PAPER III

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Signature and Name of Invigilator Roll No. (In figures as per admission card) 1. (Signature) (Name) Roll No. 2. (Signature) (Name) Test Booklet No. J 0 1 0 5 Time : 2 hours] (In words) PAPER III ECONOMICS Number of Pages in this Booklet : 36 [Maximum Marks : 200 Number of Questions in this Booklet : 26 Instructions for the Candidates U U 1. Write your roll number in the space provided on the top of this page. 1. U DU U S U U U U U 2. U U U, U S U U 2. Answers to short answer/essay type questions are to be given in the space provided below each question or after the questions in the Test Booklet itself. U U No Additional Sheets are to be used. 3. U U U, - S U U U - S U U 3. At the commencement of examination, the question booklet will be given to you. In the first 5 minutes, you are requested to open the booklet and compulsorily examine it as below : (i) - S U U U U U U U S U U- U S S U U (i) To have access to the Test Booklet, tear off the paper seal on the edge of this cover page. Do not accept a booklet without sticker-seal and do not accept an open booklet. (ii) U DU U U U - S DU U U U U U U S DU / U U U U U S S U U U U U S U U - S U U - S U UQ (ii) Tally the number of pages and number of questions in the booklet with the information printed on the cover page. Faulty booklets due to pages/questions missing or duplicate or not in serial order or any other discrepancy should be got replaced immediately by a correct booklet from the invigilator within the period of 5 minutes. Afterwards, neither the question booklet will be replaced nor any extra time will be given. 4. U U 4. Read instructions given inside carefully. 5. One page is attached for Rough Work at the end of the booklet before the Evaluation Sheet. 5. U U- S (Rough Work) U U DU 6. If you write your name or put any mark on any part of the Answer Sheet, except for the space allotted for the relevant entries, which may disclose your identity, you will render yourself liable to disqualification. 6. U- S U , U U U U 7. U # U U- S U U U U U # U U U U 7. You have to return the Test booklet to the invigilators at the end of the examination compulsorily and must not carry it with you outside the Examination Hall. 8. / U Z U S U 8. Use only Blue/Black Ball point pen. 9. Use of any calculator or log table etc. is prohibited. 9. U ( U U) U U 10. There is NO negative marking. 10. U U J 0105 1 P.T.O. ECONOMICS S PAPER III - III NOTE : This paper is of two hundred (200) marks containing four (4) sections. Candidates are required to attempt the questions contained in these sections according to the detailed instructions given therein. (200) (4) S J 0105 2 SECTION - I U I Note : This section contains five (5) questions based on the following paragraph. Each question should be answered in about thirty (30) words and each carries five (5) marks. (5x5=25 marks) ( 5) (30) ( 5) (5x5=25 ) The world was poor not because it lacked material resources, technical skill or the will to work or even because it misallocated its employed resources, it was poor because something was radically wrong, with the way men (classical economists) thought and conducted their economic affairs... classical theory is misleading and disastrous. On the basis of the statement made by Keynes answer the following questions : , Q Q ; ( S ) ....... S h Q Q 1. Explain the context as to why Keynes made the above statement ? Q Q J 0105 3 P.T.O. 2. Why government interference is needed in the economy to curb fluctuations ? - S ? 3. Does cutting down wage rate necessarily lead to increase in the level of aggregate employment ? $ - S h ? J 0105 4 4. How savings could be a vice rather than a virtue ? ? 5. In the light of the above does food for work programme in India stand justified ? Q R ? J 0105 5 P.T.O. SECTION - II U II Note : This section contains fifteen (15) questions each to be answered in about thirty (30) words. Each question carries five (5) marks. (5x15=75 marks) - (5-5) (15) (30) (5) (5x15=75 ) 6. Define substitution effect of a change in price on demand of one commodity. - S J 0105 6 7. How are selling costs different from production costs ? R - - ? 8. What is marginal efficiency of Capital ? ? J 0105 7 P.T.O. 9. What is psychological law of consumption ? ? 10. Distinguish between Warranted and Natural rates of growth. h- S C J 0105 8 11. Define Organic Composition of capital. 12. What do you mean by monetized deficit ? ? J 0105 9 P.T.O. 13. What is Bank Rate ? ? 14. Identify non-tariff barriers. - J 0105 10 15. What is meant by demographic transition ? R ? 16. What are the components of narrow money as used by RBI ? m ? J 0105 11 P.T.O. 17. What are non-performing bank assets ? - Z ? 18. What do you mean by disinvestment ? ? J 0105 12 19. Describe the constituents of PQLI. PQLI 20. Explain VAT. J 0105 13 P.T.O. SECTION - III U III Note : This section contains five (5) questions from each of the electives / specialisations. The candidate has to choose only one elective / specialisation and answer all the five questions from it. Each question carries twelve (12) marks and is to be answered in about two hundred (200) words. (12x5=60 marks) / (5) / (12) (200) (12x5=60 ) Elective - I U I 21. Explain the concept of auto-correlation in a mutiple regression model. How would you detect its presence ? State its consequences on the estimated parameters. S - S ? 22. What is chow test ? Explain its uses in testing the stability of the estimated coefficients in a multiple regression model. S ? S 23. What is the identification problem ? State the conditions under which an equation is over - identifed and just identified . S ? S - - 24. State the assumptions of OLS model and show that OLS estimators are linear and unbiased. OLS OLS ? J 0105 14 25. Comment on the nature of causality in Economics and describe Granger s test of causality involving a set of vectors of variables Zt and Xt. State the assumptions required to make Granger s concept operational. S Zt Xt S M OR / Elective - II II 21. A consumer is said to be in equilibrium when the rate at which he is willing to substitute X for Y is equal to the rate at which he can substitute X for Y . Explain. S X m Y S , X m Y S 22. Discuss V.Von Stackelberg s model of duopoly. What are its implications ? S m ? 23. Define feasibility of input-output system and describe atleast three criteria for determining feaseability. - 24. Explain Hicksian model of trade cycle. m S 25. Discuss the main features of Kaldor s model of economic growth. m S h OR / J 0105 15 P.T.O. Elective - III III 21. Examine the role and relevance of IMF in the emerging international monetary system. c (IMF) 22. What are the regional trading blocks ? Comment upon the prospects of increasing India s trade in the context of formation of regional blocks in the developed world with special reference to European Union. ? , M , h 23. Explain the impact on developing countries of distortions and asymmetries which have appeared in the World Trade Organization after 1995. 1995 24. Examine the process of determination of exchange rates under flexible exchange rate system. 25. Highlight the various issues raised by advanced countries after the formation of W.T.O. m g OR / Elective - IV IV 21. Discuss the main trends in food grain production in India during the last decade. l 22. Stabilization of agricultural income in India depends upon stabilization of agricultural prices . Comment. S S 23. Identify the major problems that are faced by farmers in India in respect of marketing of their produce. S , J 0105 16 24. Analyse the impact of W.T.O. on the Indian agriculture. Will it ensure sustainable agrarian development ? . . . ? 25. Discuss the scope and limitations of contract farming in India. OR / Elective - V V 21. Comment on the role of planning in the changed economic scenario since 1991 in India. , 1991 22. Discuss the impact of economic reforms on the incidence of poverty in India since 1991. 1991 23. What do you mean by convertibility of rupee ? Is capital account convertibility advantagous in India under the present circumstances ? L ? S ? 24. Globalization is a serious threat to the survival of small scale sector in India Evaluate. l S 25. State the steps taken by the Centre and State Governments to reduce the revenue deficit in the recent years. S m J 0105 17 P.T.O. SECTION - IV IV Note : This section consists of one essay type question of forty (40) marks to be answered in about one thousand (1000) words on any of the following topics. This question carries 40 marks. (40x1=40 marks) (40) , (1000) (40x1=40 ) 26. Describe the present trends in inter - state inequalities. To what extent the various recommendations of Finance Commissions have helped in reducing regional imbalances in India. - h ? OR / Briefly describe the various indicators of economic development. Which one of these you consider as the most appropriate and why ? ? OR / Do you agree with the view that the various employment generating programmes in India have not shown the desired results ? Discuss. c ? J 0105 28

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Additional Info : Ugc Net June 2005 Question Paper - Economics Paper III
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